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please help me with number 12 and 13 Use the information provided below to answer questions 12 and 13: On 30 June 2020, the cash
please help me with number 12 and 13
Use the information provided below to answer questions 12 and 13: On 30 June 2020, the cash receipts journal of Joburg Traders had a provisional total of R52 500, and the cash payments journal had a provisional total of R65 000. On the same date the bank statement of Joburg Traders had a favourable balance of R55 000. The bank account in the general ledger of Joburg Traders had a favourable balance of R32 500 on 1 June 2020. After a comparison of the bank statement with the cash journals was done, the following differences were noted: The following amounts have not yet been recorded in either of the cash journals for June 2020: - Monthly bank charges, R625. - Interest on overdraft, R750. - A debit order in favour of XYZ Insurers for the insurance premium of R30 000. The following cheques have not yet been presented for payment: Cheque no 175 R13 625 Cheque no 180 R6 000 Cheque no 198 R2 000 Cheque no 199 R14 750 A deposit for R7 500 on 30 June 2020 has not yet been recorded by the bank. A customer of Joburg Traders deposited R37 500 directly into the business' bank account. 12. Dr 2020 Jun Which one of the following is the correct presentation of the bank account in the general ledger of Joburg Traders after taking into account the above differences? (1) Bank Cr 2020 R 1 Balance 32 500 Jun 30 Total payments CPJ08 96 375 Total receipts CRJOR 90 000 Balance old 28 125 122 500 122 500 1 Balance b/d 26 125 bid Jul 30 30 Balance Total receipts bld CRJOB Bank 2020 32 500 Jun 90 000 122 500 26 750 Total payments Balance CPJ08 old 95 750 28 750 122 500 Jul 1 Balance bld 2020 Jun Balance Total receipts 30 CPJOB Bank R 2020 32 500 Jun 120 000 152 500 58 750 Total payments Balance 95 750 CRI old 50 750 152 500 Jul 1 Balance Dr 2020 Jun Balance Total receipts Bank 2020 55 000 Jun 90 000 145 000 49 250 30 CPJOS Total payments Balance CRJOR 145 000 Jul 1 Balance Cr Dr 2020 Jun R Jun Balance Total receipts b/d CRJO6 Bank 2020 55 000 120 000 175 000 78 625 30 Total payments Balance CPJ06 cld 30 96 375 78 625 175 000 Jul 1 Balance b/d 13. What will the balance of the bank statement be that must be used in the bank reconciliation statement and on which side (debit or credit) of the bank reconciliation statement must the balance appear? (1) R26 125, credit side (2) R62 500, credit side (3) R55 000, debit side (4) R55 000, credit side (5) R83 875, credit sideStep by Step Solution
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